Market Patrol 24th November 2022

It is not the strongest or the most intelligent who will survive but those who can best manage change

Charles Darwin

Indicative Selling Rates
against MUR
USD

26 Apr 2024

AUD
30.81
0.6583

BWP
3.44
0.0736

CAD
34.56
1.3545

CNY
6.55
7.1468

DKK
6.83
6.8533

EUR
50.43
1.0774

HKD
6.07
7.7145

INR
0.57
82.0087

JPY
30.36
154.1916

KES
35.30
132.5951

NZD
28.14
0.6011

NOK
4.36
10.7396

SGD
34.76
1.3465

ZAR
2.54
18.4356

SEK
4.36
10.7346

CHF
51.60
1.1024

GBP
58.79
1.2560

USD
46.81
1.0000

AED
12.95
3.6161

The single currency spiked as less hawkish Fed minutes dented dollar demand

Fundamental News

EUR/USD
The Shared currency spiked to $1.0441 after minutes from the Federal Reserve's November meeting showed that most policymakers at the central bank agreed it would soon be appropriate to slow the pace of interest rate hikes.

GBP/USD

The Cable leaped to a three-month high to $1.21 on expectations that BOE will lift interest rates further to tame inflation. UK PMIs also showed that economic activity slowed less than expected in November.

USD/JPY
The Japanese yen extended gains to 138.82 against the U.S. dollar under the influence of an increase in US jobless claims and durable good data. US markets closed today for Thanksgiving.

AUD/USD
The Aussie dollar rose to $0.6730 ignoring concerns over major trading partner China.

USD/CAD
The Loonie pierced to 1.3337 per U.S dollar as oil prices hovered near two-month lows after easing concerns over Russian supply and a worsening economic outlook drove sharp losses.

USD/ZAR
South Africa's rand strengthened to 16.93 against the greenback ahead of a highly anticipated interest rate decision by the South African Reserve Bank.

USD/MUR
The dollar-rupee fell by 10 cents 44.10 (Selling) following intervention from the Bank of Mauritius.

Fundamental & Technical Data

Economic Indicators-Local Time

13:00 - EUR - German IFO Business Climate

16:30 - EUR - ECB Publishes Account of Monetary Policy Meeting

17:00 - ZAR - Interest rate decision

Central Bank Interest Rates

Last Change

New Meeting

Federal Bank of U.S

4.00%

01-Nov-2022

13-Dec-2022

European Central Bank

2.00%

01-Jan-0001

15-Dec-2022

Bank of England

3.00%

01-Jan-0001

15-Dec-2022

Bank of Japan

-0.10%

28-Jan-2016

20-Dec-2022

Reserve Bank of Australia

2.85%

01-Jan-0001

06-Dec-2022

S.Africa Reserve Bank

01-Jan-0001

Reserve Bank of India

5.90%

01-Jan-0001

07-Dec-2022

Bank of Mauritius

4.00%

04-Nov-2022

Looking for Markets correlation?

Market Correlation is a measure, statistical or observational, that gives a positive or negative link between the pricing of multiple currencies.

Bulls & Bears Levels

Resistance and Support

Levels

EUR/USD

GBP/USD

USD/JPY

USD/ZAR

1.0397

1.2004

143.09

18.60

1.0352

1.1954

142.67

17.95

1.0328

1.1919

141.94

17.64

1.0283

1.1869

141.52

17.19

1.0259

1.1834

140.79

17.09

1.0214

1.1784

140.37

16.10

1.0190

1.1749

139.64

15.12

Technical Analysis - Forex Charts

EUR/USD Outlook- looking bleak throughout Q3-Q4 2022

Chart updated on 05.07.2022

USD/MUR Outlook One more leg higher before paring some of its gains in Q3-Q4 2022

Chart posted on 05.07.2022

EUR/MUR- Bears in control in Q3-Q4 2022

Chart posted on 05.07.2022

The Canadian dollar swirled in a roller coaster move, falling to 1.3600 against the U.S. dollar as the Bank of Canada delivered a lower-than-projected rate hike of 50 basis points but later gained to 1.3530 on broad dollar weakness.

Chart posted on 27.10.2022

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Head - Forex And Derivatives

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Disclaimer

Please note that the information published is purely indicative. It is based on technical data from sources which the Bank verily believes to be authentic, though its timeliness or accuracy cannot be warranted or guaranteed. AfrAsia Bank Ltd issues no invitation to anyone to rely on this bulletin and neither we nor our information providers shall be in no way whatsoever, liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness, or for any delay or interruption in the transmission thereof to the user. The indicative rates and other market information are subject to changes at the Bank's discretion. Whilst every effort is made to ensure the information is accurate, you should confirm the latest situation with the Bank prior to making any decisions.

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